Hahn ‘sells bulk of Constantin Medien shares’

Business - 14 Nov 2017

Author: Martin Ross

Dieter Hahn, the renowned German media executive and previously chairman of the supervisory board at Constantin Medien, is reported to have sold the majority of his shares at the Germany-based media group.

Having stepped down from the supervisory board at the end of August after a bitter power dispute with Bernhard Burgener, former chief executive at Constantin Medien and chairman at subsidiary Highlight Communications, Hahn has sold tranches of his shares in recent weeks, according to Meedia, the German media website.

It is claimed that Hahn now only has 2.2 per cent of the voting rights in the media group, taking him below the 3-per-cent threshold.

In the summer, Hahn still (directly or indirectly) held an aggregation of voting rights totalling over 22 per cent.

The buyer of the shares has not been made public, with a spokesperson for Hahn refusing to comment.

At the end of last year, Hahn made a takeover bid for Constantin Medien, alongside KF 15 GmbH, his holding company, and the Munich-based DHV GmbH.

The offer from Hahn amounted to a bid to all shareholders at a price of €2.30 ($2.70) per share and an offer of €6 per free share of subsidiary Highlight Communications.

In addition to sports broadcaster Sport1, Constantin Medien owns the Sport1 Media sports media marketing arm, production firm Plazamedia, plus a stake in the Team Marketing agency through Highlight Communications.